Wall Street ended higher on Friday with the Dow closing at a record high after investors welcomed Federal Reserve Chair Jerome Powell’s remarks at Jackson Hole.

If the famously data-dependent Federal Reserve Chair Jerome Powell shifts gears and takes a gloomier view of the job market, that could open the door for a rate cut at the Fed’s next meeting in September.

Wall Street's main indexes climbed on Friday following a recent string of losses as investors awaited U.S. Federal Reserve Chair Jerome Powell's address at the Jackson Hole Symposium for insights into the interest-rate path.